Gas Price Movement September 14, 2017
Brent Oil Brent oil prices increased by 1.77%, as prices increased this week. Oil traded on September 14, 2017 at a price of 55.16 (US$/ barrel). Petrojam prices 87 Octane prices declined week over week, by 1.48% . Additionally 90 Octane declined by 1.44% week over week. 87 Octane and 90 Octane opened the year at J$97.32 and J$98.98 respectively and now trades at J$118.62and J$121.46 per litre . Figure 1: Petrojam, U.S. Gulf Coast Conventional Gasoline Regular and Brent Crude Oil 1 Year Price History This Week in Petroleum Hurricane Irma prompts high gasoline demand as it disrupts
Net International Reserves – August 2017
Jamaica’s Net International Reserves totaled US$3,671.68 million as at August 2017, reflecting an increase of US$935.33 million relative to the US$2,736.35 million reported as at the end of July 2017 (see figure 1). Changes in the NIR resulted from an increase in Foreign Assets of US$935.33 million to total US$4,247.21 million compared to the US$3,311.88 million reported for July 2017. ‘Currency & Deposits’ contributed the most to the growth in Foreign Assets. This as ‘Currency & Deposits’ as at August 2017 totaled US$3,739.78 million reflecting an increase of US$936.94 million compared to US$2,802.84 million booked as at July 2017. Securities amounted
JBG records a 47% decline in first quarter net profit
Jamaica Broilers Group (JBG) for the three months ended July 31, 2017, Revenues totalled $11.49 billion, a 15% increase on the $10.02 billion reported in 2016. Total revenue was broken down as follows; The Jamaica Operations contributed $7.87 billion, a 9% increase compared to $7.23 billion for the same period of 2016. JBG noted, “Jamaica Operations reported a first quarter segment result of $499 million, which was $192 million of 30% below last year’s normalised segment result of $641 million. This decrease was attributed to lowed production volumes and higher distribution costs when compared to the prior year. These higher costs